Federated Hermes Inc. Cuts Position in New York Community Bancorp, Inc. (NYSE:NYCB)

Federated Hermes Inc. trimmed its holdings in shares of New York Community Bancorp, Inc. (NYSE:NYCB) by 11.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 36,418 shares of the financial services provider’s stock after selling 4,865 shares during the period. Federated Hermes Inc.’s holdings in New York Community Bancorp were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Legacy Capital Group California Inc. raised its holdings in New York Community Bancorp by 1.2% in the second quarter. Legacy Capital Group California Inc. now owns 81,618 shares of the financial services provider’s stock worth $263,000 after buying an additional 934 shares during the last quarter. CIBC Asset Management Inc raised its holdings in New York Community Bancorp by 7.6% in the 2nd quarter. CIBC Asset Management Inc now owns 20,405 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,436 shares during the last quarter. Family Asset Management LLC lifted its position in New York Community Bancorp by 9.2% in the 2nd quarter. Family Asset Management LLC now owns 18,010 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 1,510 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in New York Community Bancorp by 26.0% during the 2nd quarter. AlphaMark Advisors LLC now owns 8,734 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 1,803 shares during the last quarter. Finally, Carson Advisory Inc. increased its holdings in shares of New York Community Bancorp by 10.3% in the 2nd quarter. Carson Advisory Inc. now owns 21,400 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 2,000 shares in the last quarter. 67.88% of the stock is owned by institutional investors.

New York Community Bancorp Stock Down 2.5 %

NYCB stock opened at $10.66 on Thursday. The business’s 50-day moving average price is $14.18 and its 200-day moving average price is $7.75. The stock has a market cap of $3.97 billion, a P/E ratio of 355.33 and a beta of 1.00. New York Community Bancorp, Inc. has a twelve month low of $5.10 and a twelve month high of $34.92. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 3.66.

New York Community Bancorp (NYSE:NYCB) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported ($3.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($1.89). New York Community Bancorp had a negative return on equity of 4.49% and a negative net margin of 10.78%. The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $722.47 million. During the same period last year, the company earned $4.23 earnings per share. The business’s revenue for the quarter was down 44.2% on a year-over-year basis. On average, equities research analysts forecast that New York Community Bancorp, Inc. will post -2.43 EPS for the current year.

New York Community Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Saturday, September 7th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, September 6th. New York Community Bancorp’s dividend payout ratio (DPR) is 133.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NYCB. Barclays increased their price objective on New York Community Bancorp from $12.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Citigroup raised their price target on shares of New York Community Bancorp from $3.50 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. Raymond James raised shares of New York Community Bancorp from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Wedbush reaffirmed a “neutral” rating and issued a $31.50 target price on shares of New York Community Bancorp in a research report on Friday, July 26th. Finally, StockNews.com raised New York Community Bancorp to a “sell” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, New York Community Bancorp has an average rating of “Hold” and a consensus price target of $10.84.

New York Community Bancorp Profile

New York Community Bancorp, Inc operates as the bank holding company for Flagstar Bank, N.A. that provides banking products and services in the United States. The company's deposit products include interest-bearing checking and money market, savings, non-interest-bearing, and retirement accounts, as well as certificates of deposit.